1. Directions
You will read passages on the topic and then answer questions about them. You may find vocabulary at the end of the test. Read the questions carefully before choosing the correct answers.2. Questions of the test
Question 1. What is the main benefit of international trade?
A) It allows countries to specialize in the production of certain goods or services.
B) It promotes the spread of new technologies and ideas.
C) It creates jobs and boosts economic growth.
D) All of the above.
Question 2. What is a trade dispute?
A) A situation in which one country imposes tariffs or trade barriers on another country's goods.
B) A situation in which one country feels that its trade partners are not following fair trade practices.
C) A situation in which a country imports more goods and services than it exports.
D) A situation in which a country experiences a decline in its economic competitiveness.
Question 3. What is a trade imbalance?
A) A situation in which one country imposes tariffs or trade barriers on another country's goods.
B) A situation in which one country feels that its trade partners are not following fair trade practices.
C) A situation in which a country imports more goods and services than it exports.
D) A situation in which a country experiences a decline in its economic competitiveness.
Question 4. What is the World Trade Organization (WTO)?
A) An international organization that promotes free trade and resolves trade disputes between countries.
B) An international organization that regulates the production and trade of goods and services.
C) An international organization that helps developing countries increase their exports.
D) An international organization that monitors the flow of capital and investment between countries.
Question 5. What is a trade imbalance?
A) A situation in which one country imposes tariffs or trade barriers on another country's goods.
B) A situation in which one country feels that its trade partners are not following fair trade practices.
C) A situation in which a country imports more goods and services than it exports.
D) A situation in which a country experiences a decline in its economic competitiveness.
